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Capital market transactions resumes on upward trend

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Activities on the Nigerian Stock Exchange (NSE) opened for the week on Monday on a bullish trend with the market capitalisation appreciating by N66 billion.

The News Agency of Nigeria (NAN) reports that the market capitalisation improved by N66 billion or 0.51 per cent to close higher at N12.913 trillion against N12.847 trillion on Friday.

Also, the All-Share Index grew by 192 points or 0.52 per cent to close at 37,312.28 compared to 37,120.28 achieved on Friday.

An analysis of the price movement showed that Dangote Cement led the gainers’ table, growing by N8.99 to close at N238 per share.

Forte Oil followed with a gain of N3.87 to close at N47.97, while Okomu Oil gained N2.99 to close at N67.99 per share.

Glaxosmithkline added 25k to close at N25.25 and National Salt Company of Nigeria inched 14k to close at N15.40 per share.

On the other hand, Nigerian Breweries topped losers chart during the day, dropping by N4.92 to close N138.98 per share.

Guaranty Trust Bank trailed with a loss of N1.31 to close at N41.69 and International Breweries shed 45k to close at N49.35 per share.

Custodian and Allied Insurance was down by 18k to close at N3.72, while Zenith international Bank declined by 16k to close at N24.84 per share.

Similarly, the volume of shares traded rose by 91.89 per cent as investors bought and sold 336.34 million shares valued at N30.02 billion in 3,778 deals.

NAN reports that this was in contrast with a turnover of 175.28 million shares worth N2.65 billion sold in 3,235 deals on Friday.

Dangote Cement was the toast of investors with an exchange of 128.92 million shares worth N27.082 billion.

FBN Holdings followed with an account of 77.56 million shares valued at N554.89 million and Fidelity Bank traded 15.90 million shares worth N26.75 million.

Diamond Bank sold 14.29 million shares valued at N16.48 million, while Guinness Nigeria exchanged 9.89 million shares worth N1.01 billion. (NAN)

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